One of the OneCoin leaders, Konstantin Ignatov, has reached an agreement for a settlement with investors, Finance Magnates reports, citing a court filing.
Ignatov, who was allegedly co-mastermind of the exit scam that attracted almost $4 billion of investments, is also a brother of Ruja Ignatova who is believed to be the main organizer of the scheme.
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Since 2017, Ignatova has been on the run from law enforcement, including the Federal Bureau of Investigation.
Having pleaded guilty to the charges in November 2019, Konstantin Ignatov faced up to 90 years in prison.
However, according to lead plaintiff Donald Berdeaux and plaintiff Christine Grablis, who are representing all the participants who invested in OneCoin and suffered financial losses, the parties have come to an agreement to terminate the case.
The details of the court settlement remain unknown.
Konstantin Ignatov was arrested at Los Angeles International Airport in March 2019 on a wire fraud conspiracy charge stemming from his role as the leader of an international pyramid scheme.
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